#QuickBiteCompliance Day 43
Keeping the World Safe: How BIS Fights Financial Crime
Let’s talk about the Bureau of Industry and Security (BIS)—a part of the U.S. Department of Commerce that does super-important work to protect everyone. Imagine if someone tried to send dangerous stuff like weapons or sensitive technology to people who could cause harm. Scary, right? BIS is like a big shield that helps stop that from happening!
Here’s how it works: BIS makes sure the rules for sending goods and technology between countries are followed. They regulate “dual-use” items—things that can be used for good (like medical equipment) but also bad (like making harmful weapons).
Unfortunately, some “bad guys” try to break these rules. Here’s what they do:
1️⃣ Fake Companies: They set up fake businesses to sneak sensitive goods to restricted places.
2️⃣ False Paperwork: They lie about what they’re shipping or who’s receiving it.
3️⃣ Hidden Routes: They ship things through multiple countries to hide the real destination.
For example, someone might secretly export tech parts that can be used to build harmful drones or send controlled materials to countries under sanctions. This isn’t just bad—it’s illegal and puts lives at risk!
That’s why BIS exists—to catch these tricks and make sure global trade stays safe and fair.
Let’s support this mission by spreading awareness! Together, we can help stop financial crimes and protect our world.
#NationalSecurity #FinancialCrime #ExportControl #TradeCompliance #BureauOfIndustryAndSecurity #StopTheBadGuys #GlobalSafety
#InclusiveRegtech #OpenSourceAML
Source: https://www.acams.org/en/resources/aml-glossary-of-terms
